Ninjastic
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Board Bitcoin Discussion
Re: Gold Not Money According to Fed -- It's an Asset
by
shady financier
on 14/07/2011, 00:39:02 UTC
Quote from: foggyb on July 13, 2011, 10:09:10 PM
Quote from: smoothie on July 13, 2011, 09:53:05 PM
Quote from: jimbobway on July 13, 2011, 09:37:24 PM
If the Fed says gold is an asset, then are bitcoins an asset?

http://blogs.forbes.com/afontevecchia/2011/07/13/bernanke-fights-ron-paul-in-congress-golds-not-money/

What Mr. Benanke doesn't realize is that money is also an asset. Gold is an asset and gold is money therefore gold is money. He is plainly stupid.

Most money (currency) today is based on debt. Is debt an asset?

Yes. A mortgage for instance, or CDOs.